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Gloucestershire Business News

Spirax-Sarco finds positive outlook for year

Spirax-Sarco said the outlook for 2021 was improving after a strong start to the year.

In a trading update issues ahead of its annual general meeting, the Charlton Kings-based thermal energy management and niche pumping specialist said the environment had continued to improve across the first quarter.

It said global industrial production had expanded 7.4 per cent as opposed to the 6.1 forecast in March.

The statement said: "The group operating profit margin in the first four months of the year was higher than previously anticipated for the full year 2021, supported by the strong sales growth and higher operational gearing.

"Our business remains highly cash generative and we maintain a strong balance sheet.

"We continue to anticipate a headwind effect on full year sales and profit of less than four per cent and more than four per cent, respectively."

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